Meiji Yasuda Asset Management Co Ltd. Boosts Stock Position in IQVIA Holdings Inc. (NYSE:IQV)

Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV) by 3.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,112 shares of the medical research company’s stock after purchasing an additional 264 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in IQVIA were worth $1,927,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. First Foundation Advisors increased its holdings in IQVIA by 3.8% during the 2nd quarter. First Foundation Advisors now owns 1,161 shares of the medical research company’s stock worth $245,000 after purchasing an additional 43 shares during the period. Team Hewins LLC lifted its stake in IQVIA by 5.0% in the first quarter. Team Hewins LLC now owns 973 shares of the medical research company’s stock worth $246,000 after acquiring an additional 46 shares during the period. Invera Wealth Advisors LLC grew its holdings in IQVIA by 0.3% during the 2nd quarter. Invera Wealth Advisors LLC now owns 14,506 shares of the medical research company’s stock worth $3,183,000 after acquiring an additional 46 shares in the last quarter. Covestor Ltd increased its position in IQVIA by 45.3% during the 1st quarter. Covestor Ltd now owns 154 shares of the medical research company’s stock valued at $39,000 after purchasing an additional 48 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of IQVIA by 0.3% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 15,668 shares of the medical research company’s stock valued at $3,313,000 after purchasing an additional 48 shares in the last quarter. 89.62% of the stock is owned by hedge funds and other institutional investors.

IQVIA Price Performance

IQVIA stock opened at $244.62 on Friday. The company has a fifty day simple moving average of $240.24 and a 200-day simple moving average of $234.25. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $44.57 billion, a price-to-earnings ratio of 33.42, a PEG ratio of 2.24 and a beta of 1.49. IQVIA Holdings Inc. has a 52-week low of $167.42 and a 52-week high of $261.73.

IQVIA (NYSE:IQV) last released its earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.07. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.79 billion. IQVIA had a net margin of 9.39% and a return on equity of 28.59%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the company posted $2.22 EPS. On average, equities analysts anticipate that IQVIA Holdings Inc. will post 10.25 EPS for the current fiscal year.

Insider Activity

In related news, insider Eric Sherbet sold 1,300 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total value of $320,229.00. Following the transaction, the insider now directly owns 19,536 shares in the company, valued at $4,812,302.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

IQV has been the subject of a number of recent research reports. Argus raised shares of IQVIA to a “strong-buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on IQVIA from $260.00 to $288.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Truist Financial upped their target price on IQVIA from $292.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group initiated coverage on IQVIA in a report on Thursday, June 6th. They issued a “buy” rating and a $270.00 price target for the company. Finally, Barclays raised their price objective on shares of IQVIA from $255.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $266.67.

IQVIA Profile

IQVIA Holdings Inc engages in the provision of advanced analytics, technology solutions, and clinical research services to the life sciences industry in the Americas, Europe, Africa, and the Asia-Pacific. It operates through three segments: Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions.